Business World

Saturday 23 September 2017

Fashion power couple investigated in Italian tax probe

Italian luxury fashion house Prada said its chairwoman Miuccia Prada and her husband, CEO Patrizio Bertelli are being investigated over past taxes
Italian luxury fashion house Prada said its chairwoman Miuccia Prada and her husband, CEO Patrizio Bertelli are being investigated over past taxes
Italian designer Miuccia Prada

Independent.ie Newsdesk and Agencies

Italian luxury fashion house Prada said yesterday that its chairwoman, Miuccia Prada, and her husband, chief executive officer and fellow shareholder Patrizio Bertelli, are being investigated by Italian authorities over past taxes.

The Hong Kong-listed company said in a statement that it had been informed by the Italian Judicial Authority of the probe.

It said neither it nor any of its subsidiaries was or is involved in this matter.

Reuters reported in January that Miuccia Prada and Bertelli were under investigation as part of a tax avoidance probe by Milan prosecutors. At the time, the company said it was not aware of investigations taking place.

On Monday, the company said that Miuccia Prada and her husband had made a voluntary disclosure to Italy's tax authority in December last year, prompting an examination into certain past tax filings by the couple.

Representatives for Miuccia Prada and Bertelli were not immediately available for comment.

Prada reported a 21pc fall in first-half net income this month due to weak demand in Asia and Europe. (Reuters)

Irish Independent

Also in Business